Iron Mountain Profits Decline
Data storage and document management company Iron Mountain, which has operations in Southborough and Northborough among more than 1,000 locations worldwide, saw a decline in profits in the second quarter, the company announced.
According to Iron Mountain, net income dipped from $38.1 million last year to $26.6 million in the period that ended June 30. Its revenues were up slightly to $754.7 million, compared with $752.2 million in 2012, thanks to an increase in storage rental that offset an expected decline in service revenues.
“Our financial and operating results for the second quarter reflect our continued focus on sustaining the durability of our storage rental business, enhancing the profitability of our international operations and supporting future growth through attractive acquisitions,” said Iron Mountain President and CEO William Meaney.
He said the company plans more acquisition, adding to recent deals that expanded Iron Mountain’s presence in the U.S., Brazil and France.
“We have a solid pipeline of attractive acquisitions in both our developed and emerging markets,” Meaney said. “Overall, we are pleased with the performance of our business year to date, which is in line with our expectations, and we will continue to pursue investment opportunities that sustain our durable core business and generate attractive returns.”
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